“To achieve its goals, the committee decided Maintain the target range for the federal funds rate at 5.25%. Up to 5.5 percent “When considering any adjustments to the target range for the federal funds rate, the committee will carefully evaluate emerging data, changing expectations, and the balance of risks,” she said in a statement after Wednesday’s meeting.
The information indicated that there will be no cuts in interest rates until the Federal Open Market Operations Committee (the US Monetary Policy Board) obtains greater certainty that inflation is permanently heading towards 2%. The CPI inflation reading for March in the United States was 3,5 Proc. On an annual basis, which means an increase of 3.2 percent.
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After this Fed decision, as expected, the dollar weakened and the zloty strengthened. The US dollar to PLN exchange rate at 20.45 reached the level of 4.033This means a decrease in the US currency by about 0.75%.
Interest rates in the United States. What then?
He announced after the meeting that “the committee will continue to reduce the portfolio of Treasury bonds, agency debt, and mortgage-backed securities.”
The Federal Reserve noted that the US economic outlook remains uncertain. “The Committee estimates that the risks to achieving employment and inflation targets have decreased over the past year. The economic outlook is uncertain, and therefore the Committee continues to pay particular attention to inflation risks,” she said in a statement after the meeting.
The latest data shows that economic activity continues to grow at a strong pace. Job growth remains high, and the unemployment rate remains low. Inflation has fallen over the past year but remains high. “In recent months, there has been a lack of further progress towards the 2% inflation target set by the committee,” he added.
The US Central Bank announced in a statement that, starting in June, it will reduce the pace of reducing the overall balance sheet.
“Beginning in June, the Committee will slow the pace of portfolio reductions by lowering the monthly limit for purchases of Treasury securities from $60 billion to $25 billion. The committee will maintain a monthly limit on the agency's purchases of mortgage-backed securities at $35 billionAny principal payments exceeding this limit will be reinvested in Treasury bonds.”
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